Home to roost: Advice for parents with adult kids living at home

Home to roost: Advice for parents with adult kids living at home Do you have adult children living with you? Thanks to housing affordability and stagnant wage growth, more kids are relying on Mum and Dad to keep a roof over their head well into their 20s and 30s. Get some advice on how to foster financial independence in your kids, so they’ll be ready to stand on their own two feet when they leave …

Sharing financial wisdom between the generations

Sharing financial wisdom between the generations Money know-how can come from anyone, young or old. When it comes to financial wisdom, author and speaker Kylie Travers and actor and singer Charmaine Bingwa have taken their lead from the previous generation. Save and save some more There’s no getting around it, getting on top of your finances means saving and saving means having discipline. Both Kylie and Charmaine learnt from their parents – and grandparents in …

First home buyers find success with advice and coaching

First home buyers find success with advice and coaching Most of the conversations I have had with clients about their adult children are about buying and paying off their first home. Getting into debt is relatively easy, but high home prices and the need to pay it off make the challenge of home ownership more difficult than a generation ago. This is especially true in Sydney where home prices are over 12 times average earnings …

Under 40 and broke: Why young people need financial advice more than ever

Under 40 and broke: Why young people need financial advice more than ever With increasing debt and falling home ownership among the under 40s, their financial prospects are less than rosy.  If this trend is set to continue, young people are going to be needing financial advice more than ever to help them make the best choices for a secure future. There’s been a lot of talk in recent years about how much better off …

What is financial planning?

What is financial planning? Regardless of your age, life stage or wage, a financial planner can work with you to reach your financial and life goals, whether short-term or long-term. This article offers an introduction to what financial planning is, how it works, and how it can benefit you. What is financial planning? Financial planning is about developing strategies to help you manage your financial affairs and meet your life goals – and the first …

How to spend more to save Penny wise, pound foolish rings true today

How to spend more to save The old saying “penny wise, pound foolish” couldn’t ring truer than in today’s throw-away world of overconsumption and excessive production of disposable items. Did you know that many manufacturers have been using techniques to deliberately reduce the life of a product to increase its replacement rate and sell you the same thing again? It’s called planned obsolescence. Some products are not built to last. Others are specifically designed to make …

Advice for the sandwich generation

Advice for the sandwich generation Many people approaching retirement with elderly parents and adult children are feeling the pressure on their time and finances. Find out why it’s important to put your own wellbeing first. Thanks to the twin trends of growing life expectancy and rising house prices, more and more people are finding themselves joining the ranks of the sandwich generation. Recent estimates put the number of Australians in the sandwich generation at more …

Five good reasons for seeking financial advice

Five good reasons for seeking financial advice Financial advice isn’t just for people with wealth. Whether you’ve set your sights on owning a home or retiring early, advice from a financial planner can help you make it happen. Buying a home Managing your budget and cash flow to save for a deposit are key to getting you into your first home. A financial planner can help you simplify and prioritise your finances and manage existing …

How can I prepare my finances for having a family? (Video)

How can I prepare my finances for having a family? (Video)  Louise Lakomy CFP® Louise has a wide range of experience and depth of knowledge in all facets of financial planning providing advice over 15 years specialising in retirement strategies. As part of the Financial Planning Association’s Ask a Planner video series, Louise Lakomy CFP® answers the commonly asked question, “What can I do financially to prepare for having a family?” If you have …

The true value of financial advice

The true value of financial advice Does investing in a financial planner really pay off? According to the latest research from Sunsuper you could be thousands of dollars better off when you make choices based on professional financial advice. Plus you’ll take more family holidays, have greater peace of mind and more confidence in your financial decisions. Teaming up with research experts, Core Data, Sunsuper have released The Value of Advice Report. Insights include financial forecasts …